The third quarter was
We have secured more new customers during the first nine months of the year than in all of 2020 and 2021 combined, while not losing a single customer.It is especially gratifying that at the beginning of September we were able to present a significant order of over MSEK 11 from a German operator as a new end customer for
Revenue during the quarter increased by 89% to MSEK 36.6 (MSEK 19.4 for the same period last year), and the operating result increased by 236% to MSEK 8.5 (MSEK 2.5), with an operating margin of 23% (13%) and a positive cash flow of MSEK 7.3.
For the first nine months of the year, revenue increased by 36% to MSEK 90.8 (MSEK 66.7), and the operating result increased by 57% to MSEK 18.0 (MSEK 11.5), with an operating margin of 20% (22%) and a positive cash flow of MSEK 4.1. At the same time, we have a total of MSEK 26 in accounts receivable, and have made advance payments of MSEK 10.
We had a negative cash flow during the previous quarter, which was a result of planned investments in, among other things, the purchase of components in order to be able to increase our production rate and thereby be able to increase revenue. We have felt the effect of these investments as early as in the third quarter; revenue is increasing, and we have been able to meet more customers' needs for
At the same time as we increased the rate of production and sales, we have continued to have a well-filled order book. Our customers still understand the importance of placing their orders well in advance to be sure they will receive products when required. It is becoming increasingly common that we receive annual orders well in advance, which of course makes it easier for us to plan both production and further investments.
It requires a lot of time and work to secure customers in all markets, but entails a little extra effort in markets where we are not as well known. We have therefore strengthened the organisation with a new Marketing Manager, who, among other things, will head the work in making us more visible at a number of industry-related conferences and trade fairs, both in
We will continue to reinforce the sales team, primarily in
The component shortage on a global front continues to affect our industry, and we persist in working hard to minimise the consequences, both for us and our customers. We still witness no change in lead times or availability of components, so predict that the situation will continue for the remainder of 2022 and all of 2023. We choose to see the global component shortage as an opportunity rather than a problem. As a small player, we have been able to deliver products when other larger players have had delivery issues, which has definitely been in our favour, and we hope it will continue in this way moving forward.
I am extremely proud of the work the team at
Kista,
CEO
For more information, please contact:
fredrik.lundberg@waystream.com
Phone: +46072 5092776
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